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DraftKings’ Legal Betting Shows How Big Gambling Can Be (Bloomberg)

The Backwards Business Of The AAF (Forbes)

City’s economy most likely already in recession – Economist (Macau Buiness)

Southeast Asia Pulls Back On Online Gambling as China Rages (Bloomberg)

Closure of Australian VIP rooms only a ‘commercial decision’ – Suncity (Macau Business)

Why a $1.2 Billion Gambling Mecca Has Fallen on Hard Times (The New York Times)

Wynn’s New Boston Casino Scores $49 Million in First Month (Bloomberg)

More…

At a Glance…

MACAU:
Weather and protests affect revenue
Typhoon Lekima and Hong Kong protests are impacting August gaming revenues – average daily revenues recorded are flat and 8% lower than last year

U.K.:
Three cup trick scams tourists
As many as 14 gangs at one time have been occupying space under Westminster Bridge and trying to scam tourists out of thousands of pounds using the old “three cup trick” – local police have already made 30 arrests

GERMANY:
No sports betting licences for online casino operators
New sports betting licences, due to commence 1 January 2020, require companies to declare that they will not promote, operate or facilitate any kind of unauthorized gambling activity – the licences will be valid initially for eighteen months

U.S.A.:
Iowa could be third state in 2019 to legalise sports betting
Following a last minute debate the state of Iowa is expected to pass a bill allowing sports betting – so far Ameristar Casino Council Bluffs and Prairie Meadows Racetrack & Casino have applied for licences with a prospective August 15 launch

MACAU:
Offshore gambling allegations
Suncity Group has denied allegations, circulated in Chinese media, that the company has been supporting online gambling businesses – Suncity says it will not hesitate to seek legal action to protect its reputation

U.K.:
Casino 36 fined
Wolverhampton’s Casino 36 has been fined £300,000 by the Gambling Commission for failures in AML and social responsibility – personal management license holders also must undertake extra training

U.K.:
Numbers of employees, bingos, betting shops and arcades all decline
Gambling Commission figures show a 0.4 decline in total gross gambling yield in the 12 months to September 2018 versus the 12-month period ended March 2018

AUSTRALIA:
Melco buys Crown Resorts shares
Melco Entertainment has acquired a 19.99% stake in Crown Resorts, sealing a $1.2-billion deal but it could take up to one year to finalise probity checks and receive regulatory approval